Micro Focus International Beneish M-Score Historical Data
The historical data trend for Micro Focus International's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Micro Focus International Beneish M-Score Chart
|
Micro Focus International Annual Data
|
|
Trend |
Apr11 |
Apr12 |
Apr13 |
Apr14 |
Apr15 |
Apr16 |
Apr17 |
Oct19 |
Oct20 |
Oct21 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.42 |
-2.41 |
-0.12 |
-4.72 |
-2.51 |
|
Micro Focus International Semi-Annual Data
|
|
Apr12 |
Oct12 |
Apr13 |
Oct13 |
Apr14 |
Oct14 |
Apr15 |
Oct15 |
Apr16 |
Oct16 |
Apr17 |
Oct17 |
Apr18 |
Apr19 |
Oct19 |
Apr20 |
Oct20 |
Apr21 |
Oct21 |
Apr22 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
- |
-4.72 |
- |
-2.51 |
- |
Competitive Comparison of Micro Focus International's Beneish M-Score
For the Software - Infrastructure subindustry, Micro Focus International's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Micro Focus International's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, Micro Focus International's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Micro Focus International's Beneish M-Score falls into.
Micro Focus International Beneish M-Score Calculation
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Micro Focus International for today is based on a combination of the following eight different indices:
| M | = | -4.84 | + | 0.92 * DSRI | + | 0.528 * GMI | + | 0.404 * AQI | + | 0.892 * SGI | + | 0.115 * DEPI |
| = | -4.84 | + | 0.92 * 1.2835 | + | 0.528 * 1.0458 | + | 0.404 * 0.9508 | + | 0.892 * 0.9663 | + | 0.115 * 0.8808 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.4347 | + | 4.679 * -0.060406 | - | 0.327 * 1.0657 |
| = | -2.47 |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
| This Year (Oct21) TTM: | Last Year (Oct20) TTM: |
Total Receivables was $846 Mil.
Revenue was $2,900 Mil.
Gross Profit was $2,124 Mil.
Total Current Assets was $1,907 Mil.
Total Assets was $10,347 Mil.
Property, Plant and Equipment(Net PPE) was $229 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,063 Mil.
Selling, General, & Admin. Expense(SGA) was $1,867 Mil.
Total Current Liabilities was $1,861 Mil.
Long-Term Debt & Capital Lease Obligation was $4,644 Mil.
Net Income was $-424 Mil.
Gross Profit was $0 Mil.
Cash Flow from Operations was $201 Mil.
|
Total Receivables was $682 Mil.
Revenue was $3,001 Mil.
Gross Profit was $2,298 Mil.
Total Current Assets was $1,542 Mil.
Total Assets was $11,147 Mil.
Property, Plant and Equipment(Net PPE) was $301 Mil.
Depreciation, Depletion and Amortization(DDA) was $793 Mil.
Selling, General, & Admin. Expense(SGA) was $4,446 Mil.
Total Current Liabilities was $1,788 Mil.
Long-Term Debt & Capital Lease Obligation was $4,787 Mil.
|
1. DSRI = Days Sales in Receivables Index
Measured as the ratio of Revenue in Total Receivables in year t to year t-1.
A large increase in DSR could be indicative of revenue inflation.
| DSRI | = | (Receivables_t / Revenue_t) | / | (Receivables_t-1 / Revenue_t-1) |
| = | (846.2 / 2899.9) | / | (682.3 / 3001) |
| = | 0.291803 | / | 0.227358 |
| | = | 1.2835 |
2. GMI = Gross Margin Index
Measured as the ratio of gross margin in year t-1 to gross margin in year t.
Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.
| GMI | = | GrossMargin_t-1 | / | GrossMargin_t |
| = | (GrossProfit_t-1 / Revenue_t-1) | / | (GrossProfit_t / Revenue_t) |
| = | (2298.3 / 3001) | / | (2123.6 / 2899.9) |
| = | 0.765845 | / | 0.732301 |
| | = | 1.0458 |
3. AQI = Asset Quality Index
AQI is the ratio of asset quality in year t to year t-1.
Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.
| AQI | = | (1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) | / | (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1) |
| = | (1 - (1907.1 + 228.6) / 10346.6) | / | (1 - (1541.8 + 300.9) / 11146.8) |
| = | 0.793584 | / | 0.834688 |
| | = | 0.9508 |
4. SGI = Sales Growth Index
Ratio of Revenue in year t to sales in year t-1.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
| SGI | = | Sales_t | / | Sales_t-1 |
| = | Revenue_t | / | Revenue_t-1 |
| = | 2899.9 | / | 3001 |
| | = | 0.9663 |
5. DEPI = Depreciation Index
Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
| DEPI | = | (Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) | / | (Depreciation_t / (Depreciaton_t + PPE_t)) |
| = | (793 / (793 + 300.9)) | / | (1063.4 / (1063.4 + 228.6)) |
| = | 0.724929 | / | 0.823065 |
| | = | 0.8808 |
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.
SGA expenses index > 1 means that the company is becoming less efficient in generate sales.
| SGAI | = | (SGA_t / Sales_t) | / | (SGA_t-1 /Sales_t-1) |
| = | (1867.4 / 2899.9) | / | (4446.1 / 3001) |
| = | 0.643953 | / | 1.481539 |
| | = | 0.4347 |
7. LVGI = Leverage Index
The ratio of total debt to Total Assets in year t relative to yeat t-1.
An LVGI > 1 indicates an increase in leverage
| LVGI | = | ((LTD_t + CurrentLiabilities_t) / TotalAssets_t) | / | ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1) |
| = | ((4643.7 + 1860.9) / 10346.6) | / | ((4787.1 + 1788.3) / 11146.8) |
| = | 0.62867 | / | 0.589891 |
| | = | 1.0657 |
8. TATA = Total Accruals to Total Assets
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
| TATA | = | (IncomefromContinuingOperations_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
| = | (NetIncome_t - NonOperatingIncome_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
| = | (-424.4 - 0 | - | 200.6) | / | 10346.6 |
| | = | -0.060406 |
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Micro Focus International has a M-score of -2.47 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
MFGP has been successfully added to your